Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

Crown electricity revenues fall – why not prices?

Press release: Domestic Energy Users’ Network, 3 October 2008

Crown’s electricity revenues falling – but why aren’t power prices falling?

“Government revenues from the electricity sector fell this year, to $1.012 billion, down from $1.124 billion last year”, said Molly Melhuish, analyst for DEUN (Domestic Energy Users’ Network) today.

These revenues can be recycled into home energy programmes – which must include both home energy retrofits to reduce power bills for all consumers, and power bill rebates to the most vulnerable consumers.

“DEUN welcomes the Home Energy Fund, which will pay for some home energy retrofits - but the $1 billion Fund will be spread over fifteen years. The whole 15-year programme amounts to less than a single year’s tax and dividend take,” Mrs Melhuish said.[1] <#_ftn1>

Consumers have heard enough of supply-side excuses for reduced electricity profits this year. Company profits are far, far too high, because companies are allowed to hike domestic power prices to make up for every little problem on the supply side.

The time has come to answer two questions:

Why are continuing domestic power price rises tolerated? Note that almost all the company profits come from mass-market customers, because there is strong competition for large customers. Another way of putting that – is Government using power company revenues as a tax by another name?

Is Government happy to sit back and watch each power company use its profits to expand its assets? Why doesn’t Government insist on far, far more investment in the nation’s houses, to stop the energy waste which is crippling so many household budgets?


ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Back Again: Government Approves TPP11 Mandate

The Government has approved a negotiating mandate for Trans-Pacific Partnership 11 (TPP11), which will ensure New Zealand businesses remain competitive in overseas markets.

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

.

 
 

Gordon Campbell: On Why Labour Isn’t Responsible For Barnaby Joyce

As a desperate Turnbull government tries to treat the Barnaby Joyce affair as a Pauline Hanson fever dream – blame it on the foreigners! We’re the victims of the dastardly New Zealand Labour Party! – our own government has chosen to further that narrative, and make itself an accomplice. More>>

ALSO:

Rail: Greens Back Tauranga – Hamilton – Auckland Service

The Green Party today announced that it will trial a passenger rail service between Auckland, Hamilton and Tauranga starting in 2019, when it is in government. More>>

ALSO:

Housing: Voluntary Rental Warrant Of Fitness For Wellington

Wellington City Council is partnering with the University of Otago, Wellington, to launch a voluntary Rental Warrant of Fitness for minimum housing standards in Wellington, Mayor Justin Lester has announced. More>>

ALSO:

Treaty: Agreement In Principle Signed With Moriori

“The Crown acknowledges Moriori was left virtually landless from 1870, hindering its cultural, social and economic development. The Crown also acknowledges its contribution to the myths that the people of Moriori were racially inferior and became extinct." More>>

ALSO:

Susan Devoy: Call For Inquiry Into State Abuse Reaches UN

Race Relations Commissioner Dame Susan Devoy is in Geneva and has asked a United Nations committee to urge the New Zealand government to initiate an inquiry into the physical and sexual abuse of children and disabled people held in state institutions. More>>

ALSO:

(Not National): Cross-Party Agreement On Pike River Re-Entry

The commitment was signed this afternoon by the leaders of Labour, United Future, The Maori Party, and the Green Party and, together with the earlier commitment by New Zealand First, means that there is now a Parliamentary majority behind the families’ fight for truth and justice. More>>

ALSO:

Earlier:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election